"Peak and Equator commence drilling the Owanare AX1 exploration well on OML 122• Estimated gas-in-place potential in the Owanare prospect exceeds 3 TCF.
Peak Petroleum Industries Nigeria Ltd. and Equator Exploration Ltd. have commenced drilling their second well in the OML 122 licence area, offshore Nigeria. OML 122 is located 25-60 km offshore in water depths of 40-300 metres and covers an area of 1,295 sq. km on the Western Niger Delta, east of Shell’s giant Bonga Field (estimated 1.4 billion barrels) on OML 118 and southwest of Shell’s EA Field on OML 79. The Owanare AX1 well was spudded this week on the large and promising Owanare prospect, which lies in a water depth of 135 metres. The 3D seismic data covering the prospect has been re-processed and interpreted by Peak, Equator and its independent technical advisors, Horizon Energy Partners. The data suggests that Owanare has gas-in-place potential of 3 TCF.
The aim of the Peak/Equator drilling program is to prove-up significant volumes of gas as potential supply for the numerous gas-utilisation projects currently underway or in planning stages in Nigeria within close proximity to OML 122. The secondary objective is to find commercial volumes of oil on the block.Commenting on the spudding of the second well on OML 122.
Wade Cherwayko, Chief Executive of Equator, said:“Owanare AX1 has significant potential based on 3-D seismic and existing wells drilled on the block including the recently drilled Bilabri BX1 well drilled by Peak and Equator. With the large number of gas utilization projects being developed onshore Nigeria, Peak and Equator hope to monetize gas discoveries on OML 122 in the near future.”
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Posted by Anonymous contributor
Comment:
On the 10 blocks, it is about time. Using the oil and gas resources we have to accelerate the local growth rate is a nice initiative. Hopefully some of the blocks like Opl 471 which is close to some of Total's main fields and the owanare prospect may have solid hydrocarbon accumulation to feed the local and maybe the regional market if there is an energy crisis in the future.
I have always prefered using the gas resources for local use in power, LPG and industries. I recall somehwere that gas may be the cheapest environmental friendly energy used in American industries, more cheaper than electricity. I think coal may be cheaper to produce electricity but may not be that ENV friendly.
Wednesday, April 26, 2006
Knock Adoon FPSO Headed to Nigeria for Addax
Addax Petroleum's subsidiary Addax Petroleum Development (Nigeria) Limited held a Sail Away Ceremony for the Knock Adoon FPSO (Floating Production, Storage and Offloading vessel) at the Dubai Drydocks Shipyard.
The Knock Adoon FPSO will replace the current Knock Taggart FPSO as Addax Petroleum's new key crude oil production, storage and export facility in its fields in OML123, offshore Nigeria. Designed to store a minimum of 1,700,000 barrels of crude oil, the Knock Adoon FPSO also offers a processing capacity of 60 mbbls/d (sixty thousand barrels per day) of crude oil and a total liquids (oil and water) processing capacity of 140 mbbls/d. Incorporated in this facilities upgrade and expansion is an off-loading buoy terminal to more efficient crude offloading and to accommodate larger tankers.
The contract for the provision of the FPSO was awarded to Fred Olsen Production AS. Upgrade works were carried out in the Dubai Drydocks Shipyard in preparation for vessel mobilisation to Nigeria. The vessel is expected to depart from Dubai in May. Addax Petroleum has the vessel under contract for an initial eight year period with options to extend.
Mrs. Mabel Daukoru, wife of the Minister of State of Petroleum, Dr. Edmund Daukoru, played the role as Godmother of the vessel.
Commenting on this event Jean Claude Gandur, President and Chief Executive Officer of Addax Petroleum said: "This is a fabulous example of how to work together, with the cross-border work performed by the Fred Olsen, Drydocks Shipyard, DPR, NNPC, NAPIMS and Addax Petroleum teams. I sincerely thank them, and in particular Dr Edmund Daukoru for his personal unflinching encouragement and guidance, and salute all the efforts which have led to this wonderful accomplishment." Mr. Gandur added, "The Knock Adoon FPSO is a valuable asset for the company and its shareholders that will help us sustain production in our biggest producing field."
The Knock Adoon FPSO is the third FPSO contracted by Addax Petroleum in Nigeria after the Knock Taggart FPSO, chartered from Fred Olsen Production, in OML123 and the Sendje Berge FPSO, chartered in 2005 from Sendje Berge Ltd in OPL90.
About OML123
OML123 is the Corporation's largest property as measured by reserves and production. It is located offshore approximately 70 km south of the town of Calabar, Nigeria and covers an area of 90,700 acres (367 km2) in water depths ranging from 3 to 40 m on the eastern edge of the Niger Delta. In March 2006, oil production from OML123 was in excess of 50 mbbls/d.
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Source: RIGZONE
The Knock Adoon FPSO will replace the current Knock Taggart FPSO as Addax Petroleum's new key crude oil production, storage and export facility in its fields in OML123, offshore Nigeria. Designed to store a minimum of 1,700,000 barrels of crude oil, the Knock Adoon FPSO also offers a processing capacity of 60 mbbls/d (sixty thousand barrels per day) of crude oil and a total liquids (oil and water) processing capacity of 140 mbbls/d. Incorporated in this facilities upgrade and expansion is an off-loading buoy terminal to more efficient crude offloading and to accommodate larger tankers.
The contract for the provision of the FPSO was awarded to Fred Olsen Production AS. Upgrade works were carried out in the Dubai Drydocks Shipyard in preparation for vessel mobilisation to Nigeria. The vessel is expected to depart from Dubai in May. Addax Petroleum has the vessel under contract for an initial eight year period with options to extend.
Mrs. Mabel Daukoru, wife of the Minister of State of Petroleum, Dr. Edmund Daukoru, played the role as Godmother of the vessel.
Commenting on this event Jean Claude Gandur, President and Chief Executive Officer of Addax Petroleum said: "This is a fabulous example of how to work together, with the cross-border work performed by the Fred Olsen, Drydocks Shipyard, DPR, NNPC, NAPIMS and Addax Petroleum teams. I sincerely thank them, and in particular Dr Edmund Daukoru for his personal unflinching encouragement and guidance, and salute all the efforts which have led to this wonderful accomplishment." Mr. Gandur added, "The Knock Adoon FPSO is a valuable asset for the company and its shareholders that will help us sustain production in our biggest producing field."
The Knock Adoon FPSO is the third FPSO contracted by Addax Petroleum in Nigeria after the Knock Taggart FPSO, chartered from Fred Olsen Production, in OML123 and the Sendje Berge FPSO, chartered in 2005 from Sendje Berge Ltd in OPL90.
About OML123
OML123 is the Corporation's largest property as measured by reserves and production. It is located offshore approximately 70 km south of the town of Calabar, Nigeria and covers an area of 90,700 acres (367 km2) in water depths ranging from 3 to 40 m on the eastern edge of the Niger Delta. In March 2006, oil production from OML123 was in excess of 50 mbbls/d.
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Source: RIGZONE
On Board Sedco Energy
I have switched over to Transocean's Sedco Energy for CVX Agbami Deepwater operations.
Sorry for the delayed update, as usual, I tried to take full advantage of my time-off from DWP.
Many thanks to the contributors to this site, I have observed some very interesting comments and information dropped by you.
We'll keep digging and praying for Nigeria to stable.
Sorry for the delayed update, as usual, I tried to take full advantage of my time-off from DWP.
Many thanks to the contributors to this site, I have observed some very interesting comments and information dropped by you.
We'll keep digging and praying for Nigeria to stable.
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